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Determine the depreciation expense for the current year

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A tractor acquired on January 4 of the current year at a cost of $100,000 has an estimated life of 10 years.

Assuming that it has a residual value of $10,000, determine the depreciation expense in the current year using the straight-line method and the double-declining method.

Instructions:

Determine the Depreciation Expense for the current year using the a) straight line method and b) double declining balance method. Show your solution.

Reference no: EM131324583

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